Hitachi Group company GlobalLogic has announced that it has signed a definitive agreement to acquire Fortech, a leading software engineering services company based in Romania.
Headquartered in Cluj-Napoca, Fortech has applied its in-depth technical capabilities to hundreds of clients and more than 1,000 digital projects over nearly two decades of operation – experience that ultimately positions the company as one of the largest leading independent digital engineering firms in Romania.
“Fortech is a leading firm with a proven track record and specialization in the technologies needed for digital evolution. This acquisition will further strengthen GlobalLogic’s presence in Europe and accelerate our access to the rich technical talent in Romania; it will arm Fortech with the resources and strong support of GlobalLogic and Hitachi. We are excited to welcome Fortech and their talented people to the GlobalLogic family.”
, said Nitesh Banga, President and CEO of GlobalLogic.
GlobalLogic’s investment in Fortech is part of a multi-year strategy aimed at establishing a broader European market while enabling it to better serve its customers around the world from a delivery perspective. This acquisition will further enable GlobalLogic to leverage Hitachi’s strengths in information technology (IT), operational technology (OT) and products, and accelerate its growth by supporting the expansion of the Lumada business.
Terms of the deal were not disclosed. Under the agreement, Fortech will continue to operate with its existing management and staff as a wholly owned subsidiary of GlobalLogic. The transaction is subject to customary regulatory approvals and is expected to close by the end of the calendar fourth quarter of 2022.